Like it was planned, Invalda issued 25 mLTL and 50 mLTL value non-public convertible bonds. By these issues the redemption of 75 mLTL value bonds, issued this October, will be refinanced.
“As we have announced already, we will take necessary steps to maintain the stable activity of the group. Some of them are restructuring of our liabilities and strenghtening of our capital basis by issuing the bonds. They will be redeemed on July 2010 or could be converted to Invalda shares. Also Invalda has implemented some other means required at this stage to cover the part of current liabilities. I am sure that we will be able to adjust to the changed business environment”, – Darius Sulnis, the president of Invalda, said.
For the moment Invalda AB is preparing to issue public convertible bonds for 30 mLTL. “The intention of this issue is not to distribute all of the bonds for the funds gathering, but, as it was announced earlier, to create equal opportunities to minor shareholders to purchase bonds with the major ones”, – states D. Sulnis.
About the Invalda financial group
The Invalda financial group focuses on asset management as well as private and investment banking. The asset management activity currently concentrates on finance, real estate, pharmacy, furniture manufacturing and roads and bridges construction. Activities of Invalda mostly cover Central and Eastern European countries, but the company constantly seeks investment opportunities in close regions. The main goal of Invalda financial group is successful development of activity with orientation to long-term stable growth and ensurance of high financial return to the shareholders.